Markets

Oil Falls After Fed Minutes, U.S. Supply Data: Report

Oil futures edged lower Friday, pressured by a stronger dollar, as traders weighed concerns over a potential end to the Federal Reserve's monetary stimulus this year against a hefty drop in last week's U.S. crude supplies, MarketWatch reported.

Crude oil futures for delivery in February shed 51 cents, or 0.6%, to $92.41 a barrel on the New York Mercantile Exchange. It traded around $92.73 shortly before the supply report and briefly topped $92.80 after it.

Crude supplies fell by 11 million barrels, the U.S. Energy Information Administration reported Friday. Analysts polled by Platts expected a 1 million-barrel decline.

Oil prices lost 20 cents Thursday after the minutes of the Fed's most recent meeting were released.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More